Hello all,
3 years ago i brought 2 acres of land up the coast, this block is apart of a mass subdivision, hopefully it goes to gazetal this wednesday coming…
Ok, to get to the point, if all goes to plan, my 2 acres will be turned into 12 blocks or more, depending on council, and from what i know the cost are high to get this done, i have a guestamit that was done;
Description
Approx Per Lot Costs
En-globo – Cost of Land $ 40,000
Planning zoning studies $ 600
Development Application $ 250
Engineering Design $1,500
GTCC Engineering Approvals $ 640
Survey $ 1,100
Engineering Construction $ 30,000
Construction Contract Supervision $ 950
Electricity Installation $ 4,000
MidCoast Water Development Charges $ 13,400
GTCC (current) Section 94 Contribution $ 6,370
GTCC Subdivision Certificate $ 200
Land Titles Registration $ 800
Real Estate Agents Commission $ 3,500
Legal Costs $ 600
GTCC Rates (per year) $ 650
MidCoast Water Access Charge (per yr) $ 740
Land Tax $ 3,000
Approx TOTAL DEVELOPMENT COSTS $ 108,300
So from all the above cost what needs to be paid upfront, what needs to be paid apon completion and can anything be defered?
Any help help would be great.
Dom
I'd be severely checking your figures or contracting the person who gave you the quote.
Eg, the real estate agent would not get out of bed to sell 12 blocks of land for a commission of $3,500 (it may be $3.5k per site but even still that is light on). The Construction Contract Supervision $ 950 – is this the daily cost of supervision?
etc
thanks scott, I see what your saying, but this is just a overall guestimate, it would be up or down 10k, i am just wandering about what cost are upfront.
I am sure somebody has subdivided on a large scale before, i just want to get my head around how it works…
Dom
if nobody knows how it works, can you please point me in a direction,so i can investicate. i truly have no idea!!!
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